Verizon Announces $4.8 Billion Deal for Yahoo’s Internet Business

Verizon Communications Inc. will acquire Yahoo Inc. by a $4.8 Billon deal, according to media reports.

US internet firm Yahoo announced in February to be looking at “strategic alternatives” for its core internet business.

Yahoo’s search and advertising operations buyed.

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US telecoms giant Verizon Communications is to buy Yahoo, according to media reports.

via bbci

Verizon declined to comment on the reports.

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The two firms were reported on Friday to be in exclusive talks.

via

Marissa Mayer joined Yahoo four years ago.

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Chief execute Marissa Mayer, who joined in 2012, has made little progress in returning the company to profit.

via bbci

Yahoo has struggled to keep up with the changing internet advertising landscape.

Last week it reported a $440m loss in the second quarter, but said the board had made great progress on strategic alternatives.

via nasdaq

Yahoo shares have rallied since it announced the sale.

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BGC analyst Colin Gillis: “We expect any offer in the range of $5-plus billion should be accepted by the Yahoo board to bring the process to a close”

via wsj

Verizon has agreed to pay $4.8 billion to acquire Yahoo.

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Verizon plans to annouce deal early Monday, ending months of speculation.

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